Price of oil - WikipediaThe price of oil, or the oil price, (generally) refers to the spot price of a barrel of benchmark crude oil—a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent ICE, Dubai Crude, OPEC Reference Basket, Tapis Crude, Bonny Light, Urals oil, Isthmus and Western Canadian Select (WCS) There is a differential in the price of a barrel of oil based on

History and Analysis -Crude Oil Prices - WTRGA discussion of crude oil prices, the relationship between prices and rig count and the outlook for the future of the petroleum industry : Introduction Like prices of other commodities the price of crude oil experiences wide price swings in times of shortage or oversupply

Petroleum - WikipediaPetroleum ( p ə ˈ t r oʊ l i ə m ) is a naturally occurring, yellow-to-black liquid found in geological formations beneath the Earth's surface It is commonly refined into various types of fuels Components of petroleum are separated using a technique called fractional distillation i e separation of a liquid mixture into fractions differing in boiling point by means of distillation